$1.1 Billion Raleigh Sports District: Latest on Lenovo Center Renovation

The Raleigh Sports and Entertainment District development is currently entering a critical transformation lately, centered on the $300 million renovation of the newly renamed Lenovo Center (formerly PNC Arena). Recent reports from early 2026 indicate that the arena’s capacity is actually set to expand despite the extensive renovations, with seating projected to grow to over 21,000 for concerts and approximately 19,600 for hockey. Major enhancement renderings released in April 2026 highlight a complete exterior refresh featuring expanded glass facades, a new year-round flagship beer hall on the south side, and a team store nearly triple its original size. These internal upgrades are scheduled for a concentrated “dark period” in July and August 2026, during which new seating will be installed throughout the lower bowl to be ready for the 2026–27 NHL and NCAA seasons.

Simultaneously, the broader $1 billion mixed-use district surrounding the arena is moving toward its first major construction milestones. Phase one of the 80-acre redevelopment, led by Pacific Elm Properties, is slated to kick off with the construction of a 4,300-seat music venue operated by Live Nation and a massive five-acre tailgating plaza situated between the arena and Carter-Finley Stadium. This initial phase also includes the development of over 200,000 square feet of retail, 500 apartments, and a 150-key hotel, with the first parking garages and the promenade expected to be completed in time for the 2027 Wolfpack football season. This long-term project is being hailed as a primary economic driver for the region, securing the Carolina Hurricanes’ presence in Raleigh through at least 2044.

This project alongside others such as the Rock Creek Entertainment District reinstate USA’s position as a leading entertainment hub globally.

October 7, 2024

Pacific Elm Properties and Gale Force Sports and Entertainment have announced plans for the Raleigh Sports & Entertainment District, a new $1 billion mixed-use development surrounding the arena that hosts the Carolina Hurricanes and NC State basketball.

On Monday, Sep 23, 2024, the City of Raleigh received a rezoning request for the Raleigh Sports and Entertainment District. The request detailed a $1B development plan around the former PNC Arena, which Carolina Hurricanes owner Tom Dundon is pushing. The proposal outlines a site with four subdistricts containing:

4,000 residential units
Up to 3 million square feet of non-residential space
Buildings up to 40 stories tall
Parking decks
Open spaces
Entertainment and dining areas
Enhanced tailgating experience

Raleigh Sports and Entertainment District: Subdistricts

Arena Subdistrict

Includes the arena and surface parking
Plans show 20 acres for parking on the northeast side (Wade Avenue)
The arena will undergo hundreds of millions worth of upgrades and renovations in coming years

Entertainment Subdistrict

Covers 27 acres
Described as the “heart of the sports and entertainment activities”
Connects the Lenovo Center and Carter-Finley Stadium
Building heights range from 3 to 15 stories
Includes tailgating areas, food and beverage businesses, retail, and hotels

Mixed-Use Subdistrict

Includes retail, residential, and office space
Seeks 40-story heights for the 12-acre area along Edwards Mill Road

Live/Work Subdistrict

Located along Edwards Mill Road and Wade Avenue
Seeks 40-story heights
Highest density of office and residential development
Access to Interstate 40 provides “ideal visibility for a regional office campus”

The plans also include 12 acres of open space.

Development Timeline and Details

Gale Force Sports and Entertainment, the Carolina Hurricanes’ parent company, revealed renderings for the entertainment district earlier this month. They plan to start work on the first phase in late 2025. Dallas-based Pacific Elm Properties, a real estate affiliate for Gale Force, leads the development.

The entire development has a 15-year timeline. The state of North Carolina owns the 80-acre property around the arena.

Phase one will include:

Over 200,000 square feet of entertainment and lifestyle retail space
150,000 square feet of office space
A 150-key hotel and more than 500 apartments
Expanded plaza with a 600-foot promenade lined with tailgating suites, balconies, and open fan spaces
Two parking garages flanking the tailgating area

The revamped tailgating scene, expected to complete for the 2027 football season, will feature luxury suites, balconies, a promenade, and a stage for live entertainment. Plans also include a 4,300-seat music venue operated by Live Nation.

Pacific Elm Properties and Gale Force Sports and Entertainment announced plans for the Raleigh Sports & Entertainment District on September 11, 2024. The 80-acre site redevelopment, located near I-40 and Carter-Finley Stadium, aims to provide new shopping, dining, and entertainment opportunities year-round. It will feature a unique outdoor area for sports tailgating and programming, catering to fans of both the Hurricanes and NC State.

Jamie Schwedler, partner at Parker Poe law firm, and Tim Walton, director of the State Property Office of the North Carolina Department of Administration, submitted the rezoning application. Kimley-Horn serves as the development team’s civil engineer.

This month, the PNC Arena became the Lenovo Center after the Centennial Authority signed a $60 million naming-rights deal with Lenovo. PNC will maintain a presence at the arena, with its name on the club and luxury seating areas.

The redevelopment forms part of a deal between Gale Force and the Centennial Authority, allowing for the transformation of the site outside the arena and extending the Carolina Hurricanes’ lease in Raleigh for at least 20 more years.

On Monday, Sep 23, 2024, the City of Raleigh received a rezoning request for the Raleigh Sports and Entertainment District.

Raleigh Sports and Entertainment District Project Factsheet

Project Name: Raleigh Sports and Entertainment District
Location: Around the former PNC Arena (now Lenovo Center), Raleigh, NC
Total Investment: $1 billion
Developer: Gale Force Sports and Entertainment (Parent company of Carolina Hurricanes)
Lead Development Partner: Pacific Elm Properties (Dallas-based)
Property Owner: State of North Carolina
Total Area: 80 acres
Rezoning Request Date: September 23, 2024
Project Announcement Date: September 11, 2024
Development Timeline: 15 years

Construction Review